Pitney Bowes Posts Stronger-Than-Expected Q4 Earnings Amid Sales Challenges: Details
Portfolio Pulse from Nabaparna Bhattacharya
Pitney Bowes Inc. (NYSE:PBI) reported Q4 FY23 earnings with a sales decline of 4% year-on-year to $871.58 million, surpassing analyst expectations. The adjusted EPS of $0.07 also beat the consensus of $0.02. Despite the revenue decline, driven by a reduction in meter base and other factors, recurring revenue from shipping solutions grew by 17%. The company announced a quarterly dividend of $0.05 per share and expects FY24 revenue to be flat to slightly declining, with EBIT margins remaining stable. PBI shares rose by 0.4866% to $4.13.
February 01, 2024 | 6:58 pm
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Pitney Bowes reported better-than-expected Q4 FY23 earnings, with a sales decline offset by growth in shipping solutions and a positive outlook for FY24. Announced a quarterly dividend of $0.05 per share.
Pitney Bowes' Q4 earnings beat, coupled with a positive revenue outlook and dividend announcement, are likely to positively impact investor sentiment and the stock price in the short term. The company's successful cost reduction program and expected benefits in 2024 further support a positive outlook.
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RELEVANCE 100